Mosaic Headquarters-Seattle, WA. Photo via Google Earth.
Mosaic Health Solutions and Cambia Health Solutions have teamed up to create Echo Health Ventures, a new investment outfit focused on investing in healthcare companies.
Echo Health Ventures is a combination of Mosaic's and Cambia's existing investment programs with plans to continue its growth by deploying capital to healthcare companies with a consumer-centric focus.
The parent companies' governing boards have appointed Rob Coppedge to lead the combined strategic investment company as its CEO. Coppedge brings over 20 years of healthcare venture funding experience, and most recently served as president of Cambia's strategic investment division.
"The next great health care companies will personalize health care, reduce costs and focus on the consumer -- not the enterprise," he said in a statement, adding that Echo will get innovations to scale faster and more successfully across the healthcare market.
The Echo Health Ventures board will include Mark Ganz, President and CEO of Cambia Health Solutions, and Brad Wilson, President and CEO of Blue Cross and Blue Shield of North Carolina.
Echo touted its inherent advantages, such as access to resources from two health solutions companies, its national scale and its specialized support for entrepreneurs and innovative companies.